What was the basic difference between the economy of the North and the economy of the South?

I am
going to assume that this question is
asking about the differences in the economies of the
northern and southern
United States during the Civil War. Prior to the Civil War, the South was
the
big money maker for the United States in terms of exports. That main export was cotton,
and
by 1840 it was worth more than all of our other exports
combined.
Unfortunately, the South lacked in other
areas. The South had minimal manufacturing
capability, about 29 percent of
the railroad tracks, and only 13 percent of the nation's banks.
Additionally,
most of the South's economy was tightly tied to slavery. This contrasted with
the
North's "free market" approach. Coinciding with this economic model was
the fact that
the North's economy was focused on the commercial and
manufacturing side of things. As the
Industrial Revolution gained momentum,
the North's economy boomed as they could produce more
textiles, guns, etc.
than the South, and the North could produce it faster. These basic

differences ended up having a huge impact on the Civil War.

The Union's industrial and economic capacity
soared during the war as the North
continued its rapid industrialization to
suppress the rebellion. In the South, a smaller
industrial base, fewer rail
lines, and an agricultural economy based upon slave labor made
mobilization
of resources more difficult. As the war dragged on, the Union's advantages in

factories, railroads, and manpower put the Confederacy at a great
disadvantage.

href="https://www.nps.gov/media/article-search.htm">https://www.nps.gov/media/article-search.htm